401k and congress - Anyone else scared?

Has anyone else saw the report of the dems in congress and their hearings about the current 401k. It's not bad enough, that most of us pay into a system that we will never see the money back, but they want to get their hands on the 401ks

This is looking awful for the US. Everyone, anyone, should be petrified.

You should be worried. With a possible majority in Congress
Democrats will steal the 401Ks if they can. They are stealing the election.
Obama is smiling about that one, as all looks good in his socialist plan

well if obama gets in and the congress is controlled by pelosi we are so screwed that it wont matter anymore

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This is Pelosi's idea and a bad one. Throw in an increase in capital gains tax also. Let's have a 401k tax with that increase in capital gains. What is wrong with her brain? My 401k is already a 201k. The Fannie Mae man lover Barney Frank has already made it clear to forget about the debt and budget deficit, we need immediate massive spending and an increase in taxes across the board and I'm not paraphrasing. Why would anyone vote for this?????????????????????............wtf!!

Stock market is a long term investment not short term. In the long run, if left alone, most of what people lost can be regained. Those that panic and pull out are worse off than those that stick to their guns.

That being said, it does not make it o.k. for the government to try and get more from the hard working people. It's bad enough that the tax in our retirement will end up being taxed twice.

I'm not going to suggest any action right now but I can tell you what to look for....

Before the Democrats go through with seizing everyone's 401k's they will pass legislation that vastly increases the penalty for early withdraw... to prevent people from pulling out their 401k's so the government can't get their greedy mits on your money. Thats what you should watch for.... As soon as that Bill hits the floor of Congress, I'd be calling my broker to cash out.

I may not be a financial guru but I know how Democrats operate. They will cut off the exits before they set the building on fire. That's how they roll.